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Leading up to 's announcement of its second quarter earnings on Thursday, July 18, 2013 analysts have become more wary as expectations have fallen over the past month to earnings of $2.58 per share from earnings of $2.60 per share.

Over the past month, the consensus estimate has dipped from $2.60, but it's still up from the consensus estimate of $2.56 three months ago. Analysts are expecting earnings of $8.05 per share for the fiscal year. Revenue is expected to be $2.79 billion for the quarter, 8% higher than the year-earlier total of $2.57 billion. For the year, revenue is projected to come in at $10.85 billion.

A year-over-year drop in revenue in the first quarter broke a three-quarter streak of revenue increases.

The profit decrease in the first quarter came after a profit increase in the previous quarter. The 49% profit decline in the most recent quarter brought the figure down to $116 million. In the quarter before that, net income was up more than fourfold year-over-year.

Sherwin-Williams manufactures, distributes, and sells paint, coatings and related products to professional, industrial, commercial, and retail customers. One of Sherwin-Williams's main competitors in the chemical manufacturing industry, , will report earnings on Thursday, July 18, 2013. Analysts are expecting earnings of $2.34 per share for PPG Industries, down 1% from last year's earnings of $2.36 per share.

Other competitors in the basic materials sector include: The Valspar and RPM International Inc.